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Waterstone Mortgage Corporation
Independent Mortgage Company|Pewaukee, WI|National
Loans Originated
6,322
Applications
8,642
Volume
$2 billion
Offers loans directly to consumers
Overall Pricing
Mediocre
Overall Pull Through
Strong
Pricing and Pullthrough Overview
Average Rate Spread
+0.505%
The average of the lender's APR minus the market's average APR (APOR)
Average Net Fees
$4,303
Borrower paid Origination Charges - Lender Credits
Pullthrough Rate
73.2%
Percentage of applications that result in closed loans
Safe Rate's Summary
What They Do Well
- Strong pull through performance
- Particularly strong in Conventional and FHA and VA and Jumbo and USDA loans
- Nationwide availability with consistent service
Things to Think About
- Rates typically 51 basis points above market average
- Higher than average fees ($4,303)
Report Card
Waterstone Mortgage Corporation performance at a glance
| Category | Rating | Grade | Details |
|---|---|---|---|
Pricing Rate competitiveness | Mediocre | Below peers | |
Pull Through Closing Strength | Strong | Highly Competitive | |
Products Loan Type Specialists | Specialization score by loan product | ||
Conventional | Exceptional | Market Leader | |
FHA | Exceptional | Market Leader | |
VA | Exceptional | Market Leader | |
Jumbo | Strong | Highly Competitive | |
USDA | Exceptional | Market Leader | |
Purpose Reason specialization | Specialization score by loan purpose | ||
Purchase | Exceptional | Market Leader | |
Refinance | Strong | Highly Competitive | |
Places Geographic coverage | Strong | National · 50 metro areas · 48 states |
Rating Scale:
Exceptional (80-100)
Strong (60-79)
Sound (40-59)
Acceptable (20-39)
Mediocre (0-19)
Typical Borrower Profile
Average Loan Amount
$321,787
Average Borrower Income
$131,102
Average Property Value
$403,749
Performance by Loan Product
| Loan Type | Overall | Product | Pricing | Pull Through | Volume | Mix | Spread | Fees |
|---|---|---|---|---|---|---|---|---|
Conventional | Sound | Exceptional | Mediocre | Strong | 3,951 | 62.5% | +0.440% | $4,159 |
FHA Loans | Sound | Exceptional | Mediocre | Exceptional | 1,692 | 26.8% | +0.862% | $4,635 |
VA Loans | Sound | Exceptional | Mediocre | Strong | 564 | 8.9% | -0.010% | $4,748 |
Jumbo Loans | Sound | Strong | Acceptable | Sound | 58 | 0.9% | +0.404% | $3,109 |
USDA Loans | Sound | Exceptional | Mediocre | Strong | 57 | 0.9% | +0.454% | $3,772 |
Performance by Loan Purpose
| Purpose | Overall | Product | Pricing | Pull Through | Volume | Mix | Spread | Fees |
|---|---|---|---|---|---|---|---|---|
Purchase | Sound | Exceptional | Mediocre | Strong | 5,844 | 92.4% | +0.514% | $4,307 |
Refinance | Acceptable | Strong | Mediocre | Sound | 478 | 7.6% | +0.408% | $4,254 |
Geographic Coverage
Metro Areas
49
States Served
48
We count Washington DC as a state
Avg Place Specialization
Strong
States with Loan Originations
AKALARAZCACOCTDCDEFLGAIAIDILINKSKYLAMAMDMEMIMNMOMSMTNCNDNENHNJNMNVOHOKORPARISCSDTNTXUTVAVTWAWIWV
Top Metro Areas by Place Specialization Score
1
Albuquerque, NM, NMMSA
Volume: 1,030Mix: 16.29%
Place Specialization
Exceptional
2
Santa Fe, NM, NMMSA
Volume: 98Mix: 1.55%
Place Specialization
Exceptional
3
Farmington, NM, NMMSA
Volume: 49Mix: 0.78%
Place Specialization
Exceptional
4
Deltona, FLMSA
Volume: 301Mix: 4.76%
Place Specialization
Exceptional
5
Crestview, FLMSA
Volume: 118Mix: 1.87%
Place Specialization
Strong
6
Orlando, FLMSA
Volume: 369Mix: 5.84%
Place Specialization
Strong
7
Las Cruces, NM, NMMSA
Volume: 100Mix: 1.58%
Place Specialization
Strong
8
Blacksburg, VAMSA
Volume: 61Mix: 0.96%
Place Specialization
Strong
9
Tulsa, OK, OKMSA
Volume: 265Mix: 4.19%
Place Specialization
Strong
10
Odessa, TX, TXMSA
Volume: 69Mix: 1.09%
Place Specialization
Strong
Showing 10 of 49 metro areas
Top States by Place Specialization Score
1
NMState
Volume: 1,432Mix: 22.65%
Place Specialization
Exceptional
2
FLState
Volume: 1,343Mix: 21.24%
Place Specialization
Strong
3
OKState
Volume: 336Mix: 5.31%
Place Specialization
Strong
4
WIState
Volume: 352Mix: 5.57%
Place Specialization
Strong
5
AZState
Volume: 367Mix: 5.81%
Place Specialization
Strong
6
VAState
Volume: 299Mix: 4.73%
Place Specialization
Strong
7
TXState
Volume: 495Mix: 7.83%
Place Specialization
Strong
8
IDState
Volume: 172Mix: 2.72%
Place Specialization
Strong
9
KSState
Volume: 99Mix: 1.57%
Place Specialization
Strong
10
MOState
Volume: 171Mix: 2.70%
Place Specialization
Strong
Showing 10 of 35 states
How We Rank Lenders
Our rankings use geometric mean scoring across equally-weighted categories. This rewards lenders who perform consistently well across all metrics, not just excel in one area.
Our Point System (Max 30 Points)
10
Pricing
Rate and fee competitiveness (33%)
10
Pull Through
Reliability in closing loans (33%)
10
Product
Specialization in the loan type (33%)
💎
Champion(80%+ = 24-30 points)
⭐
Superstar(60-79% = 18-23 points)
Data Integrity & Updates
Data is updated quarterly based on the latest HMDA filings and proprietary SafeRate analysis. All metrics are calculated using standardized methodologies to ensure fair comparison across lenders.
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